Board allots ~30.55 lakh equity shares on conversion of warrants
Board allotted ~30.55 lakh equity shares of Rs. 10/- face value after 3 non-promoter warrant holders paid the remaining 75% consideration of ~Rs.
By ScoutQuest · · 2 min read
- Shares allotted
- ~30.55 lakh equity shares of Rs. 10/- face value
- Consideration received
- ~Rs. 2.75 crore (remaining 75% consideration)
- Paid-up capital
- ~Rs. 26.1 crore across ~2.61 crore equity shares
What the company told the exchange
The Board of Velox Shipping and Logistics Ltd has allotted ~30.55 lakh equity shares of face value Rs. 10/- each. These shares were issued because holders of convertible warrants chose to convert them, and not through a fresh offer to the public.
- The warrants were allotted on a preferential basis to non-promoters on May 16, 2026.
- Shareholders had approved the issue at an Extra-Ordinary General Meeting held on January 08, 2026.
- The allotment follows the warrant holders' applications to convert their warrants into an equal number of equity shares.
Where the money came in
When the warrants were allotted, the holders had paid 25% of the consideration, that is Rs. 3/- per warrant. To convert, they paid the remaining 75%, that is Rs. 9/- per warrant.
- Amount received now: ~Rs. 2.75 crore
- Issue price: Rs. 12/- per warrant
- Each share was issued at a face value of Rs. 10/- plus a premium of Rs. 2/-
- Together with the 25% taken earlier, this makes up 100% of the consideration on these warrants.
Who received the shares
Three investors are named in the update, described as non-promoters whose warrants are being converted into equity shares:
- Manvi Bharat Poojary
- Amit Arora
- Ravishankar Sarvothaman
What changes in the share capital
- Paid-up share capital rises to ~Rs. 26.1 crore
- This is divided into ~2.61 crore equity shares of face value Rs. 10/- each.
- The new shares rank pari passu with the existing equity shares in all respects, subject to the lock-in prescribed under SEBI ICDR Regulations.
- The shares are to be issued in dematerialised form.
Conversion window
The warrants were eligible for conversion for a period of 18 months from the date of allotment. The holders paid the remaining 75% and applied for conversion within that window.
How a retail investor can read this
- This is a capital inflow event: money that was pending against shares the company had already committed to issue has now been received.
- Because new shares are created, the total number of equity shares goes up, so each existing share represents a smaller slice of the company than before.
- The shares went to non-promoter investors, so this allotment does not by itself add to promoter holding.
- The shares come with a lock-in for a period prescribed under SEBI ICDR Regulations, so they are not immediately free to be sold.
Also from Velox Shipping and Logistics
Board outcome: Sep 2026 results, ~30.55 lakh shares allotted on warrant conversion
7 Nov 2026
Board meeting on November 07, 2026 to consider and approve September quarter results
31 Oct 2026
Company Secretary and Compliance Officer appointed with immediate effect
15 Oct 2026
More numbers
- Equity shares allotted on conversion of warrants30,54,531
- Amount received as 75% of total considerationRs.2,74,90,779/-
- Face value per equity shareRs. 10/-
- Issue price per warrantRs.12/-
- Conversion price paid now per warrant (75%)Rs.9/-
- Paid-up share capital after allotmentRs.26,09,63,260/-
- Total equity shares after allotment2,60,96,326
- Conversion eligibility period from allotment18 months
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